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6.19%: Mortgage Rates Drop To Lowest Level In A Year

  • October 23rd

by UrbanTurf Staff

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Long-term mortgage rates fell to their lowest level in a year today. 

Freddie Mac reported 6.19% as the average on a 30-year mortgage on Thursday, down eight points from last week. 30-year rates are now at their lowest level since early October 2024. 

“At the start of 2025, the 30-year fixed-rate mortgage surpassed 7%, while today it hovers nearly a full percentage point lower," said Sam Khater, Freddie Mac’s Chief Economist. "This dynamic has kept refinancings high, accounting for more than half of all mortgage activity for the sixth consecutive week."

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/619_mortgage_rates_drop_to_lowest_level_in_a_year/23996.

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